California Budget Issues
Wish I could just issue IOUs:
California's lawmakers failed to agree on a balanced budget by the start of its new fiscal year on Wednesday morning, clearing the way to suspend payments owed to the state's vendors and local agencies, who instead will get "IOU" notes promising payment.
I think creditors should reject the IOUs and demand payments and charge any late fees. Why should a government agency get any special treatment than regular citizens?
IOUs are not an option for United States Citizens and shouldn't be for the State of California.